The ARB Corporation Limited (ASX: ARB) share price is trading lower on Monday despite the release of a positive announcement.
In afternoon trade, the 4×4 accessories company’s shares are down 2% to $38.33.
What did ARB announce?
This afternoon ARB announced that it has signed an agreement with car giant Ford.
According to the release, the agreement will see ARB branded off-road accessories for Ranger and Everest vehicles sold as Ford licensed accessories through participating Ford dealers in Australia from the second half of 2021. After which, other selected Ford markets are expected to follow.
The release also explains that Ford Ranger and Everest customers who want the ultimate adventure gear will be able to fitout their vehicles with a range of ARB accessories that will be fully backed by Ford Australia’s New Vehicle Warranty of up to five years / unlimited kilometres.
Furthermore, the company notes that the ARB accessories for Ranger and Everest that will be made available through Ford dealerships have been validated by Ford Australia engineers. Testing has been conducted at a number of locations, including the Ford Australia Proving Ground near Lara, Victoria.
ARB’s Managing Director of 4×4 Accessories, Andrew Brown, commented: “ARB is truly honoured to be working with Ford at a global level. This collaboration is a great testament to the progressive vision of Ford and ARB to deliver to customers highly capable off-road vehicles with a broad range of best-in-class accessories.”
This sentiment was echoed by the President and CEO of Ford Australia and New Zealand, Andrew Birkic.
He said: “We are very proud to welcome ARB on-board as they are known globally and respected in the off-road community for their state-of-the-art manufacturing processes and stringent quality controls.”
“A lot of our customers have told us they’d love to be able to access a wider range of quality off-road accessories through our Ford dealership network, and this collaboration will mean they can head off-road safely with access to a range of ARB accessories,” he added.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post ARB (ASX:ARB) share price lower despite announcing major deal with Ford appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/2RmoIih
Leave a Reply